July 18, 2017 / 10:33 PM / 7 months ago

BRIEF-BHP Billiton says total iron ore production for FY17 increased by 4 pct

July 19 (Reuters) - BHP Billiton Ltd

* total petroleum production for 2017 financial year decreased by 13 per cent to 208 mmboe.

* petroleum production is forecast to decrease to between 180 and 190 mmboe in 2018 financial year.

* total iron ore production for 2017 financial year increased by four per cent to 231 mt

* ‍expect to achieve full year unit cost guidance at WAIO and conventional petroleum​

* Total copper production for 2017 financial year decreased by 16 per cent to 1.3 mt

* Total copper production is forecast to increase to between 1,655 and 1,790 kt in 2018 financial year.

* “in onshore US, volumes are expected to decline to between 61 and 67 mmboe”

* WAIO production is expected to increase to between 239 and 243 mt, or between 275 and 280 mt on a 100 per cent basis, in 2018 financial year

* ‍divestment of non-core onshore us acreage is progressing, with sale of a portion of southern hawkville anticipated in september 2017 quarter​

* expanded rig program is forecast to deliver production growth of approximately 35 per cent in 2019 financial year

* ‍in petroleum exploration, drilling of wildling-2 appraisal well in gulf of mexico is continuing, with results expected in september 2017 quarter​

* ‍all major projects under development are tracking to plan​

* ‍“industrial action and cyclone debbie have impacted unit costs at escondida and queensland coal respectively”​

* in 2018 financial year expect an increase to approximately us$2.0 billion in petroleum capex

* ‍in onshore US, development activity is increasing with up to 10 rigs operating in 2018 financial year​

* in near-term, onshore US development activity is to increase with up to 10 rigs planned for 2018 financial year

* expects to record exceptional items of us$546 million (us$740 million post-tax) in second half of 2017 financial year

* items relate to idle capacity and other strike-related costs incurred as a result of Escondida industrial action in march 2017 quarter

* for second half, not in a position to provide an update to ongoing potential financial impacts on BHP Billiton Brasil of Samarco failure Source text for Eikon: Further company coverage:

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